The biggest challenge that lies ahead for countries across the globe, including Vietnam and Australia, is to build a future that fosters economic growth which is inclusive and sustainable.
Developing a sustainable shared future involves taking a more holistic view and approach towards sustainable and inclusive economic growth, augmenting purely financial or economic measurements with other measures, such as life expectancy, life satisfaction and well-being.
The opportunity for organisations to contribute to this economic growth is enormous, but the commitment to operating in an environmentally conscious and socially innovative manner requires a change in the way we operate our businesses, collaborate with our partners and communicate with our consumers.
This report has been released by AVPI, along with our Founding Partner, Australia-Vietnam Leadership Dialogue (AVLD) to provide an insight into the discussions held during the Commercial Collaboration Driving Sustainable Development panel discussion that took place in July 2022. The AVLD-AVPI roundtable brought together business, technology and start-up leaders from Australia and Vietnam to discuss areas of collaboration, with the aim to stimulate more commercial opportunities between both countries which are aligned with the United Nations Sustainable Development Goals (SDGs).
The cross-sectoral discussion explored approaches for developing a shared vision for long- term sustainable growth with a new partner in a commercial collaboration. Views on adopting voluntary standards and principles that go beyond compliance were exchanged, followed by a discussion on communicating to stakeholders about the importance of inclusive and sustainable business development.
To read the full report and explore these discussions further, click below and download the PDF.
Key Takeaways
Sustainable growth is vitally important to the future of Australia and Vietnam
As Australia and Vietnam continue to deepen bilateral ties and focus on strengthening two-way trade and investment, it is commercial arrangements based on best practice that will promote sustainable growth. Vietnam’s willingness to lean into partnership and ambiguity creates opportunities for sustainable collaboration that Australian businesses and entrepreneurs can tap into.
Social enterprises provide a new framework for innovation and collaboration
There are many opportunities to build better connections between Australian and Vietnamese social enterprise networks through senior government engagements and the inclusion of social enterprise leaders in country business and trade tours.
Soft skills are critical for fostering sustainable commercial partnerships
To successfully foster commercial collaborations for sustainable growth, it is critical to build networks based on shared missions and purpose in Vietnam. Take a long-term view and develop trusting partnerships. Small gestures of partnership go a long way, such as learning some conversational in-country language; or seeking to understand the rhythms of the country or local community where you are conducting business.
